Bad Economy Cause You to Delay Your Virginia Divorce? You're Not the Only One! (Part A)
The recent and prolonged economic dip, referred to as the Great Recession, has deeply impacted many American's lives, and has had a ripple effect on marriage and divorce rates. The bad economy has forced many people to rethink their plans for a Virginia divorce, causing them to delay their plans because of financial concerns.
Financial Obstacles and Virginia Divorce
A recent study published by the National Marriage Project (NMP) reports that 38% of Americans that were considering a divorce before the recession decided to postpone it as a result of the bad economy. If you've been struggling over the decision to go ahead with your Virginia divorce in the midst of the bad economy, you're not alone.
When couples come to terms with their marital situation and decide that they should proceed with their Virginia divorce, they'll soon realize many unexpected divorce costs. It's hard to divide assets in a Virginia divorce when many of those assets have been reduced or diminished because of a bad economy.
There are numerous financial obstacles that the recession poses that can delay a Virginia divorce:
- Housing options - many couples have to postpone their Virginia divorce until they have the financial backing to buy another home.
- Employment - the unemployment that many people face during the recession can cause couples to wait out their Virginia divorce proceedings.
- Security - couples who want to live comfortably after their Virginia divorce may be waiting to rebuild a small financial security blanket that the bad economy diminished.
Financial Stress and Marital Happiness
The recession has meant a tremendous amount of financial stress on individuals and on families. Financial issues are a leading cause of divorce, and being caught in the throes of a bad economy can wreak havoc on your marital happiness.
The major financial stressors that the recession brings include:
- worrying about bills;
- difficulty with mortgage payments and foreclosure; and
- unemployment or reduced pay.
The greater the financial stressors are, the more likely martial happiness will take a downturn. While the recession can stall Virginia divorce rates, the mounting financial issues can weigh heavily on couples struggling to hold their marriage together.
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